Confluence Investment Management LLC Has $129.62 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Confluence Investment Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,679 shares of the home improvement retailer's stock after selling 9,936 shares during the period. Home Depot comprises approximately 1.9% of Confluence Investment Management LLC's portfolio, making the stock its 13th biggest holding. Confluence Investment Management LLC's holdings in Home Depot were worth $129,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter valued at about $5,032,910,000. Raymond James Financial Inc. bought a new position in shares of Home Depot in the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC raised its position in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the period. Northern Trust Corp lifted its stake in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in shares of Home Depot during the 4th quarter worth $471,189,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.1%

Shares of HD stock traded down $0.44 on Friday, reaching $367.85. 4,110,311 shares of the stock were exchanged, compared to its average volume of 3,433,492. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a one year low of $323.93 and a one year high of $439.37. The stock has a market cap of $365.65 billion, a PE ratio of 24.99, a P/E/G ratio of 4.03 and a beta of 1.05. The stock has a 50 day moving average price of $360.92 and a 200 day moving average price of $386.04.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the business earned $3.63 earnings per share. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot's payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price objective on Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now owns 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.